Loan Servicing

Federal Home Loans Corporation (FHLC) offers a comprehensive nationwide Trust Deed Loan Servicing solution. We service individual trust deed/mortgage loans of any size for brokers, lenders,  institutions and private investors. Additionally, our loan servicing program allows us to service fractionalized loans with ease. All computations are computer-driven, and we strive for the highest degree of accuracy.

  • Primary Servicing (FHLC is the loan servicer)
  • Sub-servicing (broker earns a servicing fee)
  • Private Label Servicing
  • Interim Servicing
  • Residential Loans
  • Commercial Real Estate
  • Manufactured Homes
  • Land
  • Any debt requiring payments over time

Account and payment processing is set up as soon as a complete loan servicing package is received. The account and payment processing of the program includes:

  • Borrower Welcome Letter
  • Borrower Monthly Statement (with payment coupon)
  • Lender Welcome Letter
  • Lender Monthly Statement
  • Same Day Payment Posting
  • Tri-monthly Disbursement of Funds (after clearing)
  • Electronic Deposit of Funds (ACH) into investor’s account
  • Payoff Demands
  • Rush Demands
  • Disbursements and Draws
  • Releases and Reconveyances
  • IRS 1098 and 1099-INT Reporting
  • Online Secure Account Access for brokers and investors, with downloadable reports

Basic Collection begins when the borrower payment is ten days past due. This includes:

  • Late Notice sent at ten days delinquent
  • Foreclosure Notice sent at 31 days delinquent
  • Act as Intermediary between Investor and Borrower

FHLC strives to avoid foreclosure whenever possible. However, when necessary, we handle the Default Servicing on all loans serviced, which includes:

  • Declaration of Compliance
  • Specific thirty-day Notice of Intent letters
  • Legal services coordination including bankruptcy relief and eviction
  • REO management and property sale services available